1、True/False1. Forafirmoperatinginaperfectlycompetitiveindustry,totalrevenue,marginalrevenue,andaveragerevenueareallequal. a. True b. FalseANSWER: FalseDIFFICULTY: ModerateLEARNING OBJECTIVES: ECON.MANK.092-Examinefirmsincompetitivemarkets.TOPICS: PerfectcompetitionKEYWORDS: BLOOM'S:Comprehens
2、ionCUSTOM ID: 001.14-TF-MANK082. Forafirmoperatinginaperfectlycompetitiveindustry,marginalrevenueandaveragerevenueareequal. a. True b. FalseANSWER: TrueDIFFICULTY: ModerateLEARNING OBJECTIVES: ECON.MANK.092-Examinefirmsincompetitivemarkets.TOPICS: PerfectcompetitionKEYWORDS: BLOOM'S:Compreh
3、ensionCUSTOM ID: 002.14-TF-MANK083. Ifafirmnoticesthatitsaveragerevenueequalsthecurrentmarketprice,thatfirmmustbeparticipatinginacompetitivemarket. a. True b. FalseANSWER: FalseDIFFICULTY: ModerateLEARNING OBJECTIVES: ECON.MANK.092-Examinefirmsincompetitivemarkets.TOPICS: PerfectcompetitionK
4、EYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 003.14-TF-MANK084. Forafirmoperatinginacompetitivemarket,bothmarginalrevenueandaveragerevenueexceedthemarketprice. a. True b. FalseANSWER: FalseDIFFICULTY: ModerateLEARNING OBJECTIVES: ECON.MANK.092-Examinefirmsincompetitivemarkets.TOPICS: Perfectcom
5、petitionKEYWORDS: BLOOM'S:ApplicationCUSTOM ID: 004.14-TF-MANK085. Aprofit-maximizingfirminacompetitivemarketwillincreaseproductionwhenaveragerevenueexceedsmarginalcost. a. TrueCopyrightCengageLearning.PoweredbyCognero.Page 19 b. FalseANSWER: TrueDIFFICULTY: ModerateLEARNING OBJECTIVES: ECON
6、.MANK.092-Examinefirmsincompetitivemarkets.TOPICS: PerfectcompetitionKEYWORDS: BLOOM'S:ComprehensionCUSTOM ID: 005.14-TF-MANK086. Aprofit-maximizingfirminacompetitivemarketwilldecreaseproductionwhenmarginalcostexceedsaveragerevenue. a. True b. FalseANSWER: TrueDIFFICULTY: ModerateLEARNING OB
